Vietnam emerges as sole economic winner in Southeast Asia

GDP to surge past virus-hit Singapore and Malaysia on China manufacturing exodus

20201118N vietnam port officials (REUTERS)

Rising exports and effective control of the coronavirus have kept Vietnam's economy growing despite the pandemic. © Reuters

TAKASHI NAKANO and TOMOYA ONISHI, Nikkei staff writers

November 19, 2020 03:26 JST

SINGAPORE/HANOI -- Vietnam is shaping up as Southeast Asia's single economic success story in the coronavirus era, maintaining steady positive growth as other economies struggle to recover.

Vietnam's real gross domestic product expanded 2.6% on the year in the third quarter, marking a second straight quarter of growth amid the pandemic. The International Monetary Fund sees the country rising to fourth in nominal GDP in the Association of Southeast Asian Nations this year, passing Singapore and Malaysia and gaining on the Philippines.